Addax Petroleum (fka AXC)

[nwtf]

Same owner from the past still owns this company. I see nothing changing.

One doesnt need to throw good money after bad to make investments in the patch. Read below.


https://www.yahoo.com/finance/news/exxonmobil-apos-massive-oil-discovery-134300324.html

ExxonMobil(NYSE: XOM) and its partners Hess(NYSE: HES) and China's CNOOC have found a treasure trove of oil off the shore of Guyana over the past four years. The companies recently unveiled the 10th discovery on their jointly held acreage position, which they now believe contains more than 5 billion barrels of recoverable oil. That reinforces Exxon's belief that the partnership can produce more than 750,000 barrels of oil per day (BPD) from the region by 2025.
It just keeps getting bigger

Exxon's latest discovery at the Pluma-1 well, when combined with further evaluation of previous finds, led the company to boost its resource estimate from more than 4 billion barrels of oil equivalent (BOE) up to over 5 billion BOE. That's enough resources to support at least five floating storage, production, and offloading (FSPO) vessels capable of producing more than 750,000 BPD.